CAIRO, 1st February, 2024 (WAM)-- The Central Bank of Egypt raised its overnight interest rates on Thursday by 200 basis points (bps).
“In its meeting today, the Monetary Policy Committee (MPC) decided to raise the Central Bank of Egypt’s overnight deposit rate, overnight lending rate, and the rate of the main operation by 200 basis points to 21.25 percent, 22.25 percent, and 21.75 percent, respectively. The discount rate was also raised by 200 basis points to 21.75 percent,” the bank said in a statement tonight.